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May 14, 2021 Although Dallas-based Fiesta Restaurant Group Inc.'s Q1 revenue was down 1.3% to $144.7 million compared to last year's $146,it beat analysts' estimates of $139,610,000. The company reported Thursday that comparable restaurant sales at one of its brands — Pollo Tropical — increased 4.3%, but comparable restaurant sales at its other fast casual brand, Taco Cabana, decreased by the exact same percentage, resulting in a net loss of $2.1 million or 8 cents per share. Earnings, adjusted for non-recurring costs, were 1 cent per share. Still, the numbers are going in the right direction compared to Q4 2020, Fiesta President and CEO Richard Stockinger said in a company press release
Operator Thank you for standing by. This is the conference operator. Welcome to the Fiesta Restaurant Group's First Quarter 2021 Earnings Call. [Operator Instructions] I would now like to turn the conference over to Raphael Gross, Managing Director at ICR. Please go ahead. Raphael Gross -- Investor Relations Thank you. Fiesta Restaurant Group's first quarter 2021 earnings release was issued after the market closed today. If you have not already accessed it, it can be found on the company's website www.frgi.com under the Investor Relations section. Before we begin, I'd like to inform you that during the call today, the company will make various statements that are not based on historical information. These forward-looking statements include without limitation, statements regarding the company's future financial position and results of operations, business strategy budget, projected costs and plans and objectives of management for future operations. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements, and the company can give no assurance that such forward-looking statements will prove to be correct. Important factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements can be found in the company's SEC filings.
Jan. 12, 2021 Fiesta Restaurant Group Inc., which owns Pollo Tropical and Taco Cabana and has been trying to recover from sales losses even before the pandemic, showed improvement in comparable restaurant sales for the 14-week fiscal fourth quarter 2020, which ended Jan. 3. "Pollo Tropical comparable restaurant sales accelerated from -11.1% in the third quarter of 2020 to -6.4% in December," Fiesta President and CEO Richard Stockinger said in a company press release. "After adjusting for the estimated impact of named storms in the third and fourth quarters, Pollo Tropical's sales growth would have been even stronger. Taco Cabana also improved its comparable restaurant sales trend from -14.2% in the third quarter of 2020 to -10.2% in December.
Taco Cabana Kicks Off 2021 With New Items And Returning Favorites! January 7, 2021 · · Taco Cabana welcomes the New Year with the introduction of several all-new items and returning menu favorites at all Texas locations! For the first time ever, Taco Cabana will introduce Pork Adobada, delicious pork marinated in dried guajillo peppers and adobo spices. Guests can enjoy the Pork Adobada in a Cabana Bowl or in a taco. Also launching today, Taco Cabana guests can also enjoy a four-pack of new cheesy Gordita Bites, filled with mozzarella cheese and topped with Cilantro Lime Ranch and cotija cheese. Beyond Meat bowls and tacos are now back on the TC menu! For a limited time, guests can order a Beyond Meat bowl or a Beyond Meat taco served with salsa roja.